Orica engaged Charter to assist with the rezoning of 70 hectares of the site. Specifically Charter delivered:

• Economic benefits assessment in support of the Planning Scheme Amendment;
• General advisory as to possible future uses that could be economically sustained on the site;
• Analysis as to remaining industrial land at Deer Park and context in Melbourne’s Western Suburbs industrial land supply; and,
• Participation as a key adviser to Orica in the Amendment process and future planning for the site.

BENEFITS TO ORICA

The successful re-zoning of Deer Park was a key milestone for Orica in achieving its vision of remediating and integrating the site back into the City of Brimbank’s economy.

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The post A 146 hectare masterplan & divestment strategy for Orica appeared first on Charter.

Driven by an increasing demand from its logistics customers and an under supply of existing accommodation in the market, Costa engaged Charter to put a requirement to the market for the construction of a new $100 million 20,000 sqm temperature-controlled facility on surplus land adjacent to its existing distribution centre.

Charter worked closely with Costa to:

• conduct a national portfolio review of Costa’s 150,000 sqm of specialised industrial accommodation
• devise and execute an off-market sale and leaseback strategy for the new facility where pre-qualified institutional purchasers were invited to participate in a three stage sale process
• conduct transaction management for the sale including governance of the sale process, including all due diligence, conract and lease negotiation and finalisation of sale and settlement
• developed a Brief outlining the size and specification of the intended purpose built temperature controlled warehouse.
• conduct a two-stage expression of interest tender process, dealing with developers in relation to the construction of the new facility
• conduct detailed analysis of tender submissions including interviews with all parties
• negotiations of commercial terms
• conclude all aspects of the tender process, including financial analysis and lease negotiation

BENEFITS TO COSTA LOGISTICS

Charter was able to deliver to Costa the most competitively priced development solution for their needs in a short period of time. The sale strategy and implementation was successfully undertaken over a 5 month period.

The development represented the highest and best use of the surplus land.

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Charter considered how a reorganisation of racecourse facilities (the track, grandstand and ancillary accommodation) could release land for development

The redevelopment of the racing facilities was necessary to accommodate more races with large fields and provide a more attractive race experience to underpin racing revenue.

Charter analysed different land uses and site layouts and  tested these at a high level to establish that redevelopment could occur before proceeding to detailed master planning. The master plan addressed two key priorities:

1. Confirmed the ability to reconfigure the racetrack in order to deliver the improved racing facilities that are necessary for the long term sustainability of racing at the venue; and
2. Determine the reasonable development yield that could be accommodated on the site in order to establish the financial feasibility and viability of the proposed development

The development potential of the resulting surplus land was analysed to demonstrate that development could fund the racecourse redevelopment and provide long term investment assets for the Club. Charter managed a team of industry specialists to resolve the unique challenges of the site.

BENEFITS TO MOONEE VALLEY RACE CLUB

Charter established through preliminary design, yield analysis and detailed financial modelling that the proposition to redevelop the racing infrastructure and develop surplus land was reasonable and viable.

The master plan Charter developed informed a Planning Scheme Amendment that sees the Racecourse included in the Moonee Ponds Activity Centre Zone. The master plan and rezoning will also facilitate and form the basis of future development.

Moonee Valley Race Club stands to  create significant value, secure racing operations into the future and enhance their position in the community and racing industry.

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The study, undertaken in conjunction with Hassell, explored the options for the staging of development with a number of potential land uses identified that would be economically viable within the new five to ten years.

A number of development schemes for each of the carpark sites were prepared. In some instances the schemes were not initially viable and Charter made suggestions to improve viability.

BENEFITS FOR COUNCIL

Charter provided a practical, realistic and economically feasible development strategy for each Council asset.

The “do nothing” option was recommended occasionally where the sites were too small and the cost to construct replacement carparking elsewhere was more than the potential revenue generated from a sale.

Critically for Council, Charter also provided advice in relation to how the carpark sites could be developed in partnership with the private sector, and how the developments should be staged to minimise temporary carparking loss, while still meeting the demands of the development industry.

The post Oakleigh carpark study and redevelopment strategy appeared first on Charter.

Growth on Melbourne’s urban boundaries must be managed correctly to minimise the effect of congestion and optimise residential alternatives.

Charter assisted the government tackle the complex array of issues of western suburban development. Charter undertook extensive market analysis of the area. High level feasibility work was undertaken to ascertain current and future resident and employment needs as well as the supporting infrastructure requirements. This included new road and a new railway line at Derrimut.

Previous high level research was reviewed and a governance structure was formulated to transcend successive governments with delivery by the private sector.

Charter developed a strategy for delivery based on a concept masterplan for a viable project with the potential for a $4 billion roll out over a 30 year horizon.

BENEFITS TO GOVERNMENT

The research undertaken by Charter demonstrated that the project can be self-sustainable from an economic point of view without substantial outlay from the public sector. Charter’s analysis formed the evidence base to support investment in transport to relieve congestion in Melbourne’s west and underpin the investment in creation of new employment opportunities.

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